India, Russia-led EAEU to begin FTA talks from today; this is how much they trade
India and the EAEU — which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan — had signed the Terms of Reference on August 20, 2025.
- Nov 26, 2025,
- Updated Nov 26, 2025 9:26 AM IST
India and the Russia-led Eurasian Economic Union (EAEU) will begin formal negotiations for a free trade agreement (FTA) from today (November 26), Commerce and Industry Minister Piyush Goyal said on Tuesday. "The FTA talks start from tomorrow here," he told reporters in New Delhi.
India and the EAEU — which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan — had signed the Terms of Reference on August 20, 2025. The document outlines an 18-month work plan to expand market access for Indian exporters, particularly MSMEs, farmers, and fishermen.
Russia remains India's largest trading partner within the grouping, with bilateral trade touching USD 68.72 billion in 2024-25. Imports of Russian crude oil, worth USD 63.84 billion, dominate the trade basket.
India’s trade with the remaining EAEU members was relatively smaller: USD 315.18 million with Armenia, USD 106.69 million with Belarus, USD 349.48 million with Kazakhstan, and USD 56.78 million with Kyrgyzstan.
Goyal said India is also exploring new trade avenues with other regions. He noted "potential for talks" on a trade pact with the Southern African Customs Union (SACU), which comprises South Africa, Namibia, Botswana, Lesotho and Eswatini — the world’s oldest customs union. India is simultaneously working on the second phase of its preferential trade agreement with Mercosur, the Latin American bloc of Brazil, Argentina, Uruguay and Paraguay.
On Israel, Goyal said negotiations for an early-harvest trade agreement will "commence soon, virtually," adding that India is keen to deepen cooperation in agriculture technology, innovation, mobility and services.
In an FTA, two countries typically eliminate or significantly reduce import duties on most traded goods.
India and the Russia-led Eurasian Economic Union (EAEU) will begin formal negotiations for a free trade agreement (FTA) from today (November 26), Commerce and Industry Minister Piyush Goyal said on Tuesday. "The FTA talks start from tomorrow here," he told reporters in New Delhi.
India and the EAEU — which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan — had signed the Terms of Reference on August 20, 2025. The document outlines an 18-month work plan to expand market access for Indian exporters, particularly MSMEs, farmers, and fishermen.
Russia remains India's largest trading partner within the grouping, with bilateral trade touching USD 68.72 billion in 2024-25. Imports of Russian crude oil, worth USD 63.84 billion, dominate the trade basket.
India’s trade with the remaining EAEU members was relatively smaller: USD 315.18 million with Armenia, USD 106.69 million with Belarus, USD 349.48 million with Kazakhstan, and USD 56.78 million with Kyrgyzstan.
Goyal said India is also exploring new trade avenues with other regions. He noted "potential for talks" on a trade pact with the Southern African Customs Union (SACU), which comprises South Africa, Namibia, Botswana, Lesotho and Eswatini — the world’s oldest customs union. India is simultaneously working on the second phase of its preferential trade agreement with Mercosur, the Latin American bloc of Brazil, Argentina, Uruguay and Paraguay.
On Israel, Goyal said negotiations for an early-harvest trade agreement will "commence soon, virtually," adding that India is keen to deepen cooperation in agriculture technology, innovation, mobility and services.
In an FTA, two countries typically eliminate or significantly reduce import duties on most traded goods.